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SB 21 In House Finance; Critics Voice Concern in Joint Rallies
Governor Parnell's oil tax bill is being heard in the house finance committee. The committee will take oil production tax testimony from the public at 5 p.m. Tuesday.
ANCHORAGE - Joint rallies are held across the state in opposition of the Governor's plan to restructure the state's oil taxes.
Senate Bill 21 is currently in House Finance and is days away from passing through the house back into the governors hands.
The bill lowers taxes for oil companies, raises the base tax rate from 25 to 33 percent and gets rid of progressivity.
Supporters of the bill say a tax change y is necessary to get more oil in the pipeline.
Those who oppose the bill say they will move forward with a referendum and an initiative to repeal the bill if it indeed passes this session.